Published • loading... • Updated
Crude Oil Prices Close to Their Pre-Iran-War Levels
Brent crude is on track for a 21% June decline as traders weigh possible U.S.-Iran talks and renewed Strait of Hormuz disruptions.
- On Tuesday, Brent crude futures dipped to $72.51 a barrel as investors monitored potential U.S.-Iran talks in Doha, with prices set for a monthly decline of around 20%.
- President Donald Trump claimed on Monday that Tehran "requested a meeting" in Doha, though Iran's Foreign Ministry spokesperson Esmaeil Baghaei denied that any negotiation meetings were scheduled with the American side.
- The June 17 interim peace deal paused fighting that disrupted global oil flows through the Strait of Hormuz, a waterway handling around 20% of the world's oil traffic.
- Tim Waterer, chief market analyst at KCM Trade, said investors are "pricing in hopes of a positive outcome from the Doha talks," though markets remain cautious while hedging bets until signs of de-escalation emerge.
- Strategists at ING warned that treating the temporary ceasefire as a permanent deal is premature, noting that reaching a resolution tackling the nuclear issue within 60 days would be "very optimistic.
Insights by Ground AI
18 Articles
18 Articles
The price of Texas oil (WTI) drops by 1.8% and closes at $69.50. The market is still looking forward to key US-Iran dialogue in Doha.
Oil prices little changed but set for steepest monthly and quarterly losses since 2020
Oil prices were little changed on Tuesday but were headed for their biggest monthly and quarterly losses since the COVID-19 pandemic in early 2020, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-long war.
·New York, United States
Read Full Article
4th of July SaleGet 40% off Vantage subscriptions for yourself or a friend.Get Started
Coverage Details
Total News Sources18
Leaning Left1Leaning Right2Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
14%
C 57%
R 29%
Factuality
To view factuality data please Upgrade to Premium
